New TD Bank Credit Card: TD Double Up Card 2% Cash Back

[Anonymous]

Was browsing around and I noticed TD Bank came out with a new Credit Card today: 

https://www.td.com/us/en/personal-banking/credit-cards/

TD Double Up Card

Earn 2% Cash Back: 1% when you buy and 1% when you redeem into an eligible TD Bank Deposit Account

Earn $75 Cash Back in the form of a statement credit when you spend $500 within the first 90 days after account opening

Earn unlimited Cash Back – no rotating categories, no caps or limits as long as your credit card account is open and in good standing

No annual fee*

Was looking more at this card, there's a 3% FTF, and it is a Visa Signature.  I guess they are doing this to get more people to bank with them.  SUB isn't too bad for a 2% card at all. 

I know they mostly use Experian and they are conserative on lending.  Also, I think they are limited to east cost states only for who can apply for this card.  I guess good card for those who currently do business with TD or was maybe thinking about them.  I'm happy with my PayPal Mastercard, but I guess more 2% cards the better? 

[coldfusion]

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Yes they are fairly conservative, they are relatively sensitive to inquiries and new accounts, unless they've implemented recent changes their decision-making process for applications is glacial, and they don't recon. 

I'll also mention that they have current promotions in play if one wants to get the card and needs an account to collect that extra 1%.   https://checkingbonus.tdbank.com/Digital500.html

[blindambition]

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@coldfusion wrote:

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Yes they are fairly conservative, they are relatively sensitive to inquiries and new accounts, unless they've implemented recent changes their decision-making process for applications is glacial, and they don't recon. 

I'll also mention that they have current promotions in play if one wants to get the card and needs an account to collect that extra 1%.   https://checkingbonus.tdbank.com/Digital500.html

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+100

It will be interesting to see approval ratio, and what sort of limits given.

[Anonymous]

I was approved for the Cash card living out of state.  The app said to "call in" when I put in my address.  The rep was able to process my application and I was approved.  This was over a year ago.  Doesn't hurt to call in if you are out of state and have a TD account (since that's where the value is in the reward program).

[Anonymous]

SUB is OK, but not sure of the attraction otherwise.   There are a number of "straight" 2% cards that give 2% on purchase, and have a lower or 0 FTF.

[Anonymous]

TD Is ridiculously conservative. I would NOT apply for this account, or any of their products if you want a high/use-able CL. I'll watch the datapoints, but wont be applying.

[FinStar]

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@Anonymous wrote:

TD Is ridiculously conservative. I would NOT apply for this account, or any of their products if you want a high/use-able CL. I'll watch the datapoints, but wont be applying.

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@Anonymous to a certain extent they are.  It's apparent there are sour grapes here, but TD Bank is not the kind of FI that would dish out a $25K SL to a profile that already has excessive available unsecured credit in their eyes, especially in today's lending and economic environment, unless you have (a) very high income, (b) high investments or depository relationship with them, and (c) long history with TD Bank.

That said, to the appropriate or right-sized profile, TD Bank can be generous.

[Aspireto850]

@Anonymous 

Nice cash back

I thought TD mostly used Equifax?

[Horseshoez]

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@Aspireto850 wrote:

@Anonymous 

Nice cash back

I thought TD mostly used Equifax?

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I opened my TDCash card last June and they hit Experian exclusively.

[pinkandgrey]

Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.